Rolls-Royce profits rise despite £56m A380 bill

For the year ending December 31, Rolls Royce said on Thursday that its net profit was 539 million pounds ($862 million) compared with 2.22 billion a year earlier. It booked a loss of 432 million pounds on financing income, compared with a gain of 1.79 billion a year earlier

The emblematic "Flying Lady" mascot for a new Rolls-Royce car, at the Peninsula Hotel in Hong Kong. File photo: AP.

Aircraft and marine engine maker Rolls Royce says its full?year profit fell by 76 percent as financing costs took a huge bite out of rising income.

For the year ending December 31, Rolls Royce said on Thursday that its net profit was 539 million pounds ($862 million) compared with 2.22 billion a year earlier. It booked a loss of 432 million pounds on financing income, compared with a gain of 1.79 billion a year earlier.

Revenue was up 6.4 percent to 11.1 billion pounds.

Profit was also hit by a 56 million pounds charge related to the failure of a Trent 900 engine on a Qantas A380.